Here we go…
October 11, 2008 at 16:40 PM EDT
[Skip to the end] Giving them a quantity target rather than a price target can mean overpaying to meet their mandated buying requirements. This is a direct fiscal transfer to the sellers of the ‘overpriced’ securities without the compensation or equity costs associated with the TARP. Fannie, Freddie to Buy $40 Billion a Month of Troubled Assets by [...]